Indices closed UP .15% to 1.09%....NICE !!!

 Indices closed near high of the day with Russell 2000 was the-best performer by far.

S&P 500 @ 4588.96

RSI @ 69.76

Internals were :

UP volume led by 2.13 to 1 in NYSE & 3.78 to 1 in Nasdaq

Advancing stocks led by 2.69 to 1 in NYSE & 1.80 to 1 in Nasdaq

Net new highs were leading by 306 in NYSE & 80 in Nasdaq

VIX UP 2.25% @ 13.63

Oil @ $81.80

Gold @ $2009.20

Canadian $ @ .6837

In my portfolio Bought NVDA in Toronto @ $44.54

Portfolio NVDA PLTR SHOP BTCC

Earnings continues to be better than expected in majority of reports and being rewarded justifiably.

VIX was UP today suggesting caution.

BLOG does NOT give buy or sell.

Saleem

US Stock market all set for new highs.....

 US stock market is all set to resume making series of new highs.....

Earnings report this week will spark major rally this week

All major indices are trading below 70 RSI...thus room to run higher & higher

ARKK trading @ 61.31 RSI seems to be a bargain.....

SOX @ 62.17 RSI is second cheapest in my universe...

Russell 2000 is third cheapest with 63.42 RSI...

Many traders got taken out with Thursday's reversal....BUT Friday was the exact opposite UP UP & away...

It IS important to have conviction in what you buy and please please show patience....

Market is totally unpredictable on any day and be ready all the time, means EXPECT VOLATILITY

Without volatility you do not get great entry point on strong stocks....

Idea IS to optimize gains in any given day, week, month and year.....DO WHATEVER IT TAKES to accelerate your return....

Some of the IDEAS I have implemented is to tinker with my exposure when I feel MAX gains have happened.....

KEEP AN EYE on fast moving stocks and sometimes trade out of existing position to enter an opportunistic trade.....IF you have been following my trades, you will get a clear picture of this strategy...This has worked with great success when nobody is talking about that particular stock on that day....

Keep an eye on business trend of your stocks...sometimes IT IS IMPROVING..so increase your exposure in that particular stock....my trade again and again proves that strategy....with great success,,. YES there are setbacks once in a while...which IS evaluated for either staying or quick exit....

Hopefully above ideas can be incorporated in some of your stock picks.....

Good luck with your strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .50% to 1.90%....NICE !!!!

Indices closed UP due to lower than expected inflation report in USA & slowing economy in Canada.

 S&P 500 @ 4582.23

RSI @ 69.05

VIX Down 7.49% @ 13.33

Oil @ $80.58

Gold @ $1999.90

Canadian $ @ .6769

Here is my portfolio weighting based on 60% exposure :

SHOP        70.15%

PLTR        28.69%

BTCC         1.16%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .55% to 1.29%....

 Indices closed down near low of the day on high volume " A reversal to REMEMBER "

S&P 500 @ 4537.41

RSI @ 63.77

VIX UP 9.25% @ 14.41

Internals were :

Down volume led by 3.01 to 1 in NYSE & 2.15 to 1 in Nasdaq

Declining stocks led by 2.99 to 1 in NYSE & 2.52 to 1 in Nasdaq

Net new highs were leading by 304 in NYSE & 63 in Nasdaq

Oil @ $80.09

Gold @ $1945.70

Canadian $ @ .6800

In my portfolio ...added 35% PLTR @ $16.98

Portfolio PLTR BTCC SHOP

It was 10 year yield which brought this stunning reversal. Be ready to buy strong stocks in this sky is falling selling which may last 2 days...

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed despite Fed raising rate by 25 basis.

S&P 500 @ 4566.75

RSI @ 71.15

DOW RSI @ 75.18...UP 13 days in a row....

Nasdaq RSI @ 62.28

VIX Down 4.83% @ 13.19

Internals were :

UP volume led by 1.76 to 1 in NYSE & 1.87 to 1 in Nasdaq

Advancing stocks led by 1.74 to 1 in NYSE & 1.64 to 1 in Nasdaq

Net new highs were leading by 223 in NYSE & 21 in Nasdaq

Oil @ $78.78

Gold @ $1970.10

Canadian $ @ .6776

Portfolio PLTR BTCC SHOP

Based on RSI Nasdaq related stocks have lot of room to run while DOW & S&P 500 stocks may pullback.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .08% to .61%....NICE !!!

 Indices closed UP again even DOW UP 12 days in a row.

S&P 500 @ 4567.46

RSI @ 71.33

Internals were :

Down volume led by 1.11 to 1 in NYSE & 1.20 to 1 in Nasdaq

Declining stocks led by .84 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new highs were leading by 237 in NYSE & 25 in Nasdaq

VIX Down .36% @ 13.86

Oil @ $79.63

Gold @ $1963.70

Canadian $ @ .6816

In my portfolio :

Sold AI @ $38.57 in pre market plus after open @ $39.80

Added 120% SHOP @ $66.45 in pre market & after open 20% @ $65.26

Portfolio PLTR BTCC SHOP

Fed is expected to raise 25 basis, a market friendly move. Today's internals were negative for the most part NOT a good sign for near term moves.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .19% to .52%...NICE !!!

 Indices closed UP, DOW was the-strongest again UP for 11 days, longest UP streak since Feb 2017. RSI in DOW is 73.83

S&P 500 @ 4544.64

RSI @ 70.02

Nasdaq RSI @ 60.65

IWM RSI @ 64.02

VIX UP 2.28% @ 13.91

Oil @ $78.74

Gold @ $1962.20

Canadian $ @ .6840

Portfolio AI PLTR BTCC SHOP

Market is in an UP mode, all Indices are participating BUT Nasdaq internals were negative across the board.

BLOG does NOT give buy or sell.

Saleem

US stock market may recover as financials lead.....

 US stock market is struggling these days with regulators who are creating uncertainty.

Fed meets this week and giving mixed signals as IF they are not going to be done anytime soon, a recipe for further decline.

Inflation IS taking a toll on all consumers from gasoline to groceries to cars...last 2 @ historic highs

BUT during all this Financials are the strongest sector and the-best performer last week.

DOW is the second best performer...

In the bargain bin is SOX...worst performer

Nasdaq is second worst...

Market always gives you signal where the strength IS.....

Our job IS to recognize leading sectors and have exposure there.....

EASY money has been made...

It IS going to be tough going forward as we stay entrenched in our " old strategies and stock picks"

XLE or energy is showing good TAPE action many stocks are attractive  in this sector

IF you are not sure about what to do, @ least reduce your exposure which I have done several weeks ago.....have reduced by 40%.....

YES ....IT IS tough to make money but follow your own specialty and check for FA & TA....

Many strategist talk a good game, BUT they are generally on the wrong side of market thus all their hyper analysis makes no dollar for you.

Slow & steady wins the race.....

DO NOT chase anything NOW...that game has been played to the hilt.

Good luck with your own take of current market status and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed with DOW & S&P 500 positive & Nasdaq down .22%.

VIX Down 2.79% @ 13.60...giving clear signal that market is heading higher

S&P 500 @ 4536.34, high 4555.00, low 4535.79

RSI @ 68.09

CMF @ 0.033

Internals were :

UP volume led by 1.09 to 1 in NYSE & .87 to 1 in Nasdaq

Advancing stocks led by 1.08 to 1 in NYSE & .87 to 1 in Nasdaq ( not a typo)

Net new highs were leading by 157 in NYSE & 39 in Nasdaq

Oil @ $77.07

Gold @ $1966.60

Canadian $ @ .6778

Here is my portfolio weighting based on 60% exposure :

AI         48.76%

SHOP  35.52%

PLTR   14.04%

BTCC   1.68%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 DOW closed in green and @ highest close in months.

Nasdaq took it on the chin with a slump of 2.05%

RSI is telling an interesting story NOW :

DOW @ 71.49

S&P 500 @ 67.94

Nasdaq @ 61.18

SO...all of a sudden Nasdaq is a bargain & DOW overbought....how times changed overnight....

In my portfolio :

Sold AMD in Canada @ $21.74

Added 100% SHOP @ $66.79.....

Portfolio AI PLTR SHOP BTCC

Todays selling was courtesy of EUPHORIA & so so earnings from NFLX & TSLA.....

BUT It COULD be a 1 DAY selling......shall see by close....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .03% to .59%...NICE !!!

 Indices opened strong but closed near low of the day, still a green close.

S&P 500 @ 4565.72

RSI @ 75.00

VIX UP 3.68% @ 13.79

AH lot of earnings report BUT reaction mostly negative

NFLX, TSLA, LVS all Down AH

In my portfolio :

Added 33% AMD @ $22.80 in Canada

SOLD TSLL @ $19.00 in AH

Portfolio AMD AI PLTR SHOP BTCC

AH Futures are Mixed with Nasdaq being lower

Market is OVERBOUGHT, may pullback sharply thus CAUTION is warranted.

BLOG does NOT give buy or sell

Saleem

Indices closed UP .71% to 1.40%....NICE !!!!

 Indices made another jump into new high for the year, S&P 500 & Nasdaq made great inroad.

Technology & Finance were strong.

CZR MS MSFT AI PLTR BAC APA were doing well 

VIX Down 1.19% @ 13.31

Crypto stuck @ $29739.64

Added 70% AMD @ $22.58

Bought PLTR @ $17.40

Here is the RSI read on my portfolio & Key market :

AMD          56.91

AI              57.09

TSLL        71.95

PLTR       73.36

BTCC      51.01

SHOP      58.91

S&P 500 74.13

Nasdaq  75.81

YES YES some of the RSI are in overbought arena, BUT BUT they can go UP TO 90 on good earnings...

BUT please pay attention to your comfort level with RISK / REWARD...IT IS HIGH RISK NOW....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .22% to 1.05%...NICE !!!

 Indices closed @ new high of the year. Russell 2000 was the strongest followed by Nasdaq. Major moves in many strong stocks like TSLA, NVDA,AAPL, ENPH.

S&P 500 @ 4522.79, high 4532.85, low 4504.90

RSI @ 71.36

Internals were :

UP volume led by 1.30 to 1 in NYSE & 1.71 to 1 in Nasdaq

Advancing stocks led by 1.42 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new highs were leading by 297 in NYSE & 138 in Nasdaq

VIX UP 1.05% @ 13.48

Oil @ $74.15

Gold @ $1956.40

Canadian $ @ .6823

Portfolio AMD AI TSLL BTCC SHOP

BLOG does NOT give buy or sell.

Saleem

US Stock Market after Friday's reversal....

 US stock market has been an amazing place to be a trader.....

You can make money the old fashioned way....BE IN THE MARKET

Nasdaq sporting the-best gain in 40% range for 6 months...simply amazing...80% annualized ....

On Friday, TAPE gave us a " mini jolt " by REVERSING....

Everybody is feeling uneasy after Friday's close.....reason....NOT USED TO REVERSAL only HIGHER close...

This week we are starting earnings report....

There are mighty 7....which will report in next 3 weeks....

TSLA reports on Wednesday...

TSLA has gone UP a whopping 116%+++ in last 6 months

TSLA sporting an RSI of 68.00....can easily go UP to 90 RSI

META reports week after with an RSI of 71.01....a star performer almost 140% gain in 6 months..

MICROSOFT also reports next week with RSI of 61.13...almost a bargain....gained a tiny 50% in last 6 months.....

GOOG has the lowest RSI @ 59.96....gained a measly 56% in last 6 months

AMZN with RSI @ 67.02 is starting to come alive...with a gain of 52% in last 6 months..

AAPL with RSI @ 62.60 is just trying to catch up....with a gain of 48%.....in 6 months

NVDA with RSI of 69.73 ...with an outstanding gain of 167% ..YES in 6 months alone...

SO....the above is a telltale of markets in 2023....

One CAN reposition or overweight any of the above or all of them for 2 years.....results to be known to only those who believed in these stocks.....

YES many stocks are lagging above numbers BUT overall a " bull posture " has been the right posture SO FAR.....

Good luck with your OWN homework and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices faced an overbought market and went south in a hurry.

S&P 500 @ 4505.42, low 4499.56, high 4527.76

RSI @ 69.73

CMF @ 0.078

Internals were :

Down volume led by 4.40 to 1 in NYSE & 1.49 to 1 in Nasdaq

Declining stocks led by 2.73 to 1 in NYSE & 2.30 to 1 in Nasdaq

Net new highs were leading by 236 in NYSE & 111 in Nasdaq

VIX Down 1.98% @ 13.34

Oil @ $75.42

Gold @ $1964.40

Canadian $ @ .6792

In my portfolio :

Sold 75.58% SHOP @ $68.88

Sold PLTR @ $16.45

Here is my portfolio weighting of current exposure @ 65%:

AI                59.61%

***SHOP    24.42%****

AMD          8.73%

TSLL         5.14%

BTCC       2.10% 

****Have 2 brokerage account, main is TD Webbroker & Wealthsimple which is No Fee 80% equity in TD & 20% in WS....thus missed selling SHOP today in WS IN FRENZY....

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .14% to 1.58%...NICE !!!!

 Indices are strong and closed well above resistance in S&P 500 & Nasdaq

S&P 500 @ 4510.04

Nasdaq @ 14,138.57

DOW @ 34,395.14

IWM @ 193.43

VIX @ 13.61

Internals were :

UP volume led by 2.65 to 1 in NYSE & 2.82 to 1 in Nasdaq

Advancing stocks led by 2.90 to 1 in NYSE & 1.90 to 1 in Nasdaq

Net new highs 393 in NYSE & 227 in Nasdaq

Oil @ $76.86

Gold @ $1963.80

Canadian $ @ .6868

In my portfolio Bought AMD @ $22.22...Canadian version 

Portfolio AMD AI TSLL PLTR BTCC SHOP

Market is in overdrive , pay close attention to RSI in buying & selling decision. Nasdaq RSI @ 72.42 is flashing CAUTION while DOW @ 59.20 is more than OK. S&P 500 RSI @ 70.72 needs monitoring also.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .25% to 1.15%...NICE !!!!

 Indices closed UP and Futures are green. S&P 500 traded @ new high for 2023.

S&P 500 @ 4472.16, high 4488.34, low 4463.23

RSI @ 67.18

CMF @ 0.127

Internals were :

UP volume led by 2.23 to 1 in NYSE & 1.70 to 1 in Nasdaq

Advancing stocks led by 3.23 to 1 in NYSE & 1.92 to 1 in Nasdaq

Net New highs were leading by 402 in NYSE & 172 in Nasdaq

VIX Down 8.76% @ 13.54....

Oil @ $75.75

Gold @ $1961.70

Portfolio AI TSLL PLTR BTCC SHOP

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .55% to .94%...NICE !!!!

 Indices closed UP @ high of the day, Russell 2000 was the star again with .94% gain with a triple breakout.

XLE was the-best performing sector with a gain of 2.2%

S&P 500 RSI stands @ 63.62

S&P 500 bullish ratio jumped to 70%...getting close frothy level....

ROKU & COIN had a great day.....

In my portfolio Bought TSLL @ $18.00

Portfolio AI TSLL PLTR BTCC SHOP

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .18% to 1.64%...NICE !!!!

 Indices closed UP @ high of the day.

Small cap & mid cap were the leaders

Nasdaq & S&P 500 lagged BUT still closed green.

S&P 500 @ 4409.53, high 4412.60, low 4389.92

RSI @ 59.98

CMF @ 0.131

VIX @ 15.07

Here is the RSI of my portfolio :

AI        59.47

PLTR  65.34

BTCC 63.19

SHOP 48.52

Keep an eye for stocks showing relative outperformance & also relative poor performance.

BLOG does NOT give buy or sell.

Saleem

Can US stock market rally from here....

 After recent selling in US stock market, many participant are wondering where IS the support...

There is good news and there is bad news...

Good news based on my research.....DOW is sitting near support IF It holds...then DOW may go it alone

S&P 500 & Nasdaq is far far from support...needs time & some testing of support....maybe in stages....

Many stocks have pulled back big time...SHOP is among those...based on RSI which stands @ 47.71

Best way to be in this market IS to be mindful of RSI with great focus....

One can trim or take profit in high RSI stocks.....

Other approach which can work IF you stay in stocks which IS working, there are hundreds of stocks which has done well and looks good going forward.

Look @ new 52 week high list and select those which are lower RSI...

Markets are never easy.....It takes lot of home work & focus in right sector to get ahead....

YES markets are looking vulnerable these days.....

First 6 months have been incredible.....expect next 6 months to be challenging....

Market always digest gains which takes time....

Q 2 earnings report starts now, this means, those companies which beats will move UP sharply...those which misses will get clobbered....

Results should be evaluated carefully, sometimes, It gives great entry point.....

There will be pre-announcements starting Monday, but those will be sector & stock specifics...make good decisions based on those announcements...

Here is the current read of RSI :

JETS             72.16

Nasdaq         60.00

S&P 500       58.61

IWM             53.60

SOX              53.46

DOW            46.83

As you can see Airlines have done well, DAL looks very good BUT may be overbought....

Good luck with your own take on market and sectors.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .13% to .55%....

 Indices closed down on continued concern about higher Interest rates. Indices closed @ low of the day. Russell 2000 closed UP 1.22%.....

S&P 500 @ 4398.95, low 4397.40, high 4440.39

RSI @ 58.61

CMF @ 0.135

Here is my portfolio weighting :

SHOP    43.60%

AI          42.30%

PLTR    12.67%

BTCC    1.43%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .79% to 1.64%....

 Indices closed well above lows of the day. Russell 2000 was the weakest.

Here are the closing RSI for Indices & my portfolio :

S&P 500  60.92

Nasdaq   60.83

DOW     50.59

IWM     49.55

BTCC-U.TO  60.49

PLTR            56.80

AI                 56.48

SHOP          48.23

Based on the above RSI numbers Russell 2000 ( IWM ) & SHOP looking deeply oversold.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .18% to 1.26%.....

 It was a red close  with Russell 2000 being the weakest.

Here is the RSI read in key Index & my portfolio :

S&P 500 @ 67.84

Nasdaq @ 66.02

Bitcoin @ 61.54

SHOP @ 57.63

AI @ 58.76

BTCC-U.TO 62.37

PLTR @ 63.46

Always manage your risk as your first priority.....

BLOG does NOT give buy or sell.

Saleem

US stock market in rest of 2023.....

 We have just completed first first 6 months in US stock market.....

YES...It was a difficult year to understand, analyze and then execute..

YES....there was lot of zig zag in every stock including NVDA.....

BUT once you understood new trends.....

Things went easy....

Take NVDA as an example......

@ the beginning of 2023 NVDA was @ $140.30

After 6 months NVDA is trading @ $424.13....a whopping gain of $283.80 per share or a 202.39% gain in 6 months

There is new phenomenon on Wall Street this year FOMM ( Fear Of Making Money ).....hoping our visitors are NOT suffering from this....

YES YES.....It takes GUTS to stay engaged in NVDA , SHOP, TSLA, AI, META, BITCOIN.....BUT stock market trading is all about trading RISK / REWARD.....

SO.....do NOT be afraid of high flying stocks...IF you put all of the above listed stocks NOW in a portfolio and leave it alone for next 2 years...you may beat the market handily......

SO message of this market is

GO WITH THE WINNERS

YES one can trade certain range based on RSI IF you have the FOCUS......

SO....

How was last 6 months generally speaking in Market....

S&P 500 UP 15.9%

Nasdaq UP 31.7%

BITCOIN UP 79.4%

As I am based in Canada, here is some Canadian perspective :

SHOP UP 82%

Information Technology UP 51.6%

Most traded in Canada TSLA SHOP SQQQ

SO what is the purpose of all the stat given today.....YES we are behind NVDA performance but some of us have done very well in last 6 months.....

And with the same FOCUS one can beat NVDA going forward....a nice challenge to have.....

SO pay attention to leaders & follow the money.....

YES...leadership is very narrow...accept IT and stay involved and stay engaged....

Results always follow effort in right direction & arena....

Good luck in 2nd half of 2023.....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .03% to .43%....NICE !!!

 July started on the same bullish note as the last 6 months ended....

S&P 500 & Russell 2000 were the strongest and closed @ high of the day.

In my portfolio :

Sold TSLL @ $18.96

Added 225% PLTR @ $15.40

Portfolio AI PLTR BTCC.U SHOP

Next post by 6 PM on Tuesday

BLOG does NOT give buy or sell.

Saleem